SJS Enterprises shares plunged up to 4.6% after ace investor Ashish Kacholia offloaded a partial stake in the company in a bulk deal. 

The small-cap stock settled the trading session at Rs 620.10, 3.06% lower than the previous closing price on the National Stock Exchange (NSE). The scrip ended the session with a market capitalisation of Rs 1,925 crores. The company’s shares hit an intra-day low of Rs 610.

According to the NSE bulk deals data, well-known investor Ashish Kacholia sold 1.8 lakh equity shares of the company at Rs 640 apiece for an approximate consideration of Rs 11.52 crores. A total of 3 lakh SJS shares changed hands on Monday, 50% more than its monthly traded average.

As per the shareholding data for the June 2023 quarter, promoters held a 51.33% stake in the company, FIIs (Foreign Institutional Investors) held a 5.32% stake, and the public held the remaining 43.35%. Ashish held 13.48 Lakh equity shares of the company, amounting to a 4.34% stake.

SJS Enterprises offers diverse aesthetic solutions for two-wheelers, passenger vehicles, commercial vehicles, consumer durables/appliances, medical devices, farm equipment, and sanitary ware industries, including body graphics, 3D lux badges, overlays, moulded plastic parts, etc.

In an exchange filing dated August 16, SJS Enterprises announced that it would acquire Suryaurja Two Pvt Ltd (STPL) for Rs 20 lakh before August 30. After the acquisition, SJS Enterprises will become a captive consumer for STPL’s 2 MW solar power.